The Bermuda-based Argo Group International Holdings announced that its Bermuda-based reinsurance company, Argo Re, Ltd., has entered into an agreement with Horseshoe Re Limited that will expand its reinsurance product offerings to meet the growing demands of the Insurance Linked Securities (ILS) market.
The bulletin explained that “Horseshoe Re is a member of Bermuda-based Horseshoe Group, a leader in innovative solutions for the reinsurance marketplace. The exclusive arrangement builds upon Horseshoe Re’s recognized expertise in ILS transformation and Argo Re’s depth of underwriting experience and financial strength to create a seamless link between the reinsurance and capital markets.” It will provide ILS funds and other capital market investors with a “flexible and efficient platform to participate in reinsurance programs that require coverage from highly rated reinsurance carriers.”
Horseshoe Group CEO Andre Perez commented: “Given the limited number of reinsurers available to support programs at this level in the ILS market, we saw an opportunity to address this need. Argo Re’s expertise in worldwide catastrophe reinsurance underwriting coupled with Argo Group’s financial strength makes them an ideal partner.”
Source: Argo Group